PNC Bank 2009 Annual Report Download - page 174

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Analysis Of Year-To-Year Changes In Net Interest Income
2009/2008 2008/2007
Increase/(Decrease) in Income/
Expense Due to Changes in:
Increase/(Decrease) in Income/
Expense Due to Changes in:
Taxable-equivalent basis - in millions Volume Rate Total Volume Rate Total
Interest-Earning Assets
Investment securities
Securities available for sale
Residential mortgage-backed
Agency $ 572 $ (79) $ 493 $137 $ 137
Non-agency (3) 126 123 20 $ 4 24
Commercial mortgage-backed (51) 8 (43) 89 (4) 85
Asset-backed (71) 57 (14) 37 37
U.S. Treasury and government agencies 135 (1) 134 (14) 4 (10)
State and municipal 31 7 38 25 25
Other debt 39 (5) 34 9 (1) 8
Corporate stocks and other (9) (9) 1 (7) (6)
Total securities available for sale 819 (63) 756 308 (8) 300
Securities held to maturity 200 (1) 199 23 23
Total investment securities 1,016 (61) 955 331 (8) 323
Loans
Commercial 1,626 (200) 1,426 350 (378) (28)
Commercial real estate 809 (59) 750 117 (178) (61)
Equipment lease financing 159 58 217 55
Consumer 1,673 (63) 1,610 171 (203) (32)
Residential mortgage 763 37 800 27 (3) 24
Total loans 5,032 (229) 4,803 644 (736) (92)
Loans held for sale 100 4 104 (29) 11 (18)
Federal funds sold and resale agreements (15) (14) (29) 13 (46) (33)
Other 217 (245) (28) 9 (33) (24)
Total interest-earning assets $6,359 $ (554) $5,805 $966 $ (810) $ 156
Interest-Bearing Liabilities
Interest-bearing deposits
Money market $ 375 $ (393) $ (18) $116 $ (377) $(261)
Demand 54 (55) (1) 8 (43) (35)
Savings 8 (2) 6 (4) (4)
Retail certificates of deposit 834 (388) 446 (2) (177) (179)
Other time 18 (107) (89) 88 (49) 39
Time deposits in foreign offices (21) (67) (88) 18 (146) (128)
Total interest-bearing deposits 1,210 (954) 256 226 (794) (568)
Borrowed funds
Federal funds purchased and repurchase agreements (44) (96) (140) (34) (204) (238)
Federal Home Loan Bank borrowings 122 (243) (121) 256 (44) 212
Bank notes and senior debt 236 10 246 (12) (128) (140)
Subordinated debt 287 94 381 40 (72) (32)
Other (33) (44) (77) 50 (45) 5
Total borrowed funds 383 (94) 289 351 (544) (193)
Total interest-bearing liabilities 1,753 (1,208) 545 534 (1,295) (761)
Change in net interest income $4,679 $ 581 $5,260 $530 $ 387 $ 917
Changes attributable to rate/volume are prorated into rate and volume components.
170